New Delhi (India), Dec 6 (ANI): The Adjudicating Authority made under the Prevention of Money Laundering Act (PMLA) has confirmed Rs. 4700 Crore attachment by the Enforcement Directorate (ED) in the case of Sterling Biotech Group.

The properties of the group included movable and immovable properties of Sterling Biotech Ltd. spread across Maharashtra, Gujarat, Karnataka, and Delhi etc.

Earlier the ED had moved the special PMLA Court in Delhi and filed the complaint under section 4 of the Fugitive Economic Offenders Act against four persons namely Nitin Sandesara, Chetan Sandesara, Dipti Sandesara and Hitesh Patel.

All the four accused are promoters of Sterling Group and fled the country to allegedly avoid a criminal investigation. ED has sought to confiscate their properties in India and abroad.

ED is also in the process to issue Red Corner Notices against the key directors of the company S. Nitin Sandesara, Chetan Sandesara, Dipti Sandesara and Hitesh Patel. Extradition requests shall be sent shortly to bring back the accused to India to face the trial proceedings.(ANI)